Barry Ritholtz’s Answer to the Foreclosure Mess: Sell the Fraudclosed, Clouded Title Homes to Unsuspecting Immigrants (VIDEO)

One answer to the foreclosure mess: More immigrants

Money manager and influential financial blogger Barry Ritholtz was one of the few people on Wall Street to predict the subprime meltdown….

On Yahoo’s Daily Ticker program Friday, he offered this suggestion for clearing out the backlog of homes in foreclosure: Offer permanent resident status to any highly trained immigrant who buys a repossessed house within two years of arriving in the United States…

You want to get rid of the problem of excess supply, the way to do it is create more demand. Bring 2 or 3 million engineers, PhD’s. You come into the United States, you buy a home or start a business within two years, you get a permanent green card. I think this is a nation built by immigrants. I have no problem enhancing our brain trust in the United States by bringing some very talented people here….

That to me makes much more sense than getting into the business of being landlords. Listen, the federal government has subsidized and built low-income housing and rented it. It hasn’t really been a successful program for them over the decades. I would hate to see them go back down that road.”

Oh, Barry…

Okay, let’s break this down and tie foreclosure fraud, land record fraud, promissory note fraud, and property conveyance fraud in with your proposal to reduce oversupply of government owned fraudclosed properties.

You propose we induce “immigrants” with the lure of the “American Dream” under the guise of a call to increase America’s “brain trust.”   How’s it going to work for our international relations when “2-3 million brain trust immigrants” find out they bought  property with no clear title and fraudulent/robosigned historical land records.  How is that “brain trust” going to react when they realize they are facing a storm of litigation to either clear the title to their “American Dream”, defend from a fraudclosure by a different “owner/holder,” or a previous homeowner (post illegal fraudclosure) who decides to challenge the violation of their constitutional due process and property rights after learning of the fraud based foreclosure action against them?

Then what? Then you and US Gov tell them “Sorry, should of known better.  Please turn in that green card now, as they are deported out of the country.”

Why do you think that Freddie and Fannie want to “rent” these homes? Could it be because they are unsellable “assets” due to title defects?

This was/is the biggest transfer of wealth and robbing of the American people that has never been seen before in the history of the world.

We can not base our recovery on fraud. It will not sustain…

~

4closureFraud.org

Comments
26 Responses to “Barry Ritholtz’s Answer to the Foreclosure Mess: Sell the Fraudclosed, Clouded Title Homes to Unsuspecting Immigrants (VIDEO)”
  1. Mario Kenny says:

    sovereignty?.

    I have long held that when it became in question by us as a real occurring situation, that, has been happening for years on end, I knew it would hurt in the right spot to get the people concerned sufficient will to act, I believe the time is getting closer.

    When squatting is wide spread, when homelessness is a visible problem and when too many foreign land owners take over our property, we will act to stop this with earnest, not before then.

    If all that have been fought for is lost, to some, of the same people whom we fought, we would have realized it may have all been for nothing and this is a sure sign of trouble, do you think we are anywhere close to that yet?

    • lvent says:

      Yep, its a Hitler Plan by the NWO, RULING ELITE, they are the real axis of evil Mario…..Neil Garfield calls it a 20 Trillion dollar land grab..I say all of these pigs are way to greedy and must be stopped…It is going to take all of us working together to break down that Foreclosure-Gate the crooks are all hiding behind it…..

  2. His idea to bring qualified persons with offer of purchasing a home isn’t bad, however the American citizens should be given the same opportunities. We need to be training our own citizens for these high paying job! so far the traiing has been for truck drivers, retail and entry level medical! Hello? Now Fannie wants to rent back the fraudulently taken foreclosures! Many families were responsible home owners prior to this mess, clearly there is a way to check someones background, with reasonable credit prior to disaster shouldn’t we let them repurchase? Americans still want homeownership, clearly if they can afford to rent at market rate with current interest rate they can afford to purchase, how about helping out all Americans instead of the really poor or really rich, what a mess! It doesn’t matter what they say they do as they please! They asume the homeowner still trying to short sell after 2 years is clearly a bum, guess leaving it vacant with weeds and bugs and vacant makes more sense, 75% lost in value? like the homeowner still hanging on created the situation? California is a mess, I think our Govenor needs to take control of the situation himself, since obviously it has dragged our state down for far too long! Someone was told that they could request a face to face meeting prior to decision making about foreclosure? That was the first time that had ever been spoken in 2 years, and if you happen to own more than one home, which many seniors did, Hud will not assist, only for homeowners who only own one home, go figure. I requested my note, refused, terms sent me were not terms that I paid for, reported to everyone, federal housing bought loan and sold to fannie, how convient, The federal government??Does anyone have any new ideas that work? Just lost my best tenants, cash for keys, loan is current, now on craigslist rentals listed no credit check, no deposit, rent to purchase? Have shown home twice, both times was a realtor looking to short sell, this should be illegal, average person doesn’t stand a chance trying to keep anything, no wonder they walk and file bankruptcy and have ruined themselves for life, my 800 credit rating most likely isn’t even on the chart and no I don’t care to know.

    • qwester says:

      I agree in part with ruth ann traci that the house should be offered to American citizens. Thes H1B immigrant Engineers and Physicists are hired at less than half the pay and benefits of an American citizen and often the home nation of the immigrant actually subsidizes the H1B after they learn the American employers proprietary techniques to bring them back home so they can compete with the USA which they are doing. That why and where the jobs are going, especially to China. My solution: Establish a neighborhood association of the 100 or so nearest homes to the vacant REO house. Deed the house to the association with each member-neighbor tasked to rehab, clean up and maintain the property. Supervise a rent to own tenant of their choosing at a generous low rent sufficient to pay taxes, maintenance, etcetera. Reimburse member-neighbors for their hours of labor at an agreed upon rate. Non-deadbeat foreclosed owners should be considered as a new tenant also. Eventually the neighborhood association could slowly pay back the bank with the suplus after an rent stream is established. Homestead ownership must not be the victim of the meat-axe traditional mortgage. For all thse years that U.S. mortgagors (borrowers) were considered by lenders and the rating agencies to be AAA quality, why were the homeowners charged such High interest rates as if they had XXX credit ratings. Even before the inception of securitization and its risk avoidance interest rates were excessive.

  3. John R. says:

    Ohhh… this is so bad in so many ways and it’s so typical “I’m rich so I know the right answers”. But I don’t think we should kill him. Flog him yes, but being ignorant is not an excuse for murder. And I really tire of hearing all those foreigners who are are so smart. I’ve worked with foreign educated people in electronics (back in the 70’s… licensed 2nd class FCC electronic tech that didn’t know how to properly install a fuse), as a Mechanic… they usually lasted about 2 weeks and then the work was to hard so they quit, as a Computer Consultant for the State I live in… we had 1 guy there that I swear thought he was gonna learn how to play music on a computer with the noises it made when he kept hitting the wrong keys all the time! He was astounded when he was let go.

    America has plenty of talent all by it’s lonesome and looking at the rest of the planet, IMHO, if they’re so smart they should be staying home and fixing their own everything.

    next, America’s presence in the world is already suffering… do we really need to make it worse by swindling foreigners more?

    And has anyone noticed how the rich want everyone else to sell off what they own… but they’re not willing to sell their own?

    A fraudclosure is just that… a fraudulent foreclosure and just because some judge sanctioned it, it doesn’t make it legal. Keep fighting!

  4. Alex says:

    In the procees of rsearching some isues of fraud, I came accross what appear to be fraudulent MORTGAGES. What do I do with this evidence. On ome mortgage I found LINDA GREEN as signatory on the mortgage.. Where can I find a signature of the real LINDA GREEN, or is there no such person? THIS MAY SUGGEST ROBO-MORTGAGES! Possibly A PRECURSOR TO FRAUDCLOSURES?

  5. Boomie cotton says:

    By far this is the most idiotic thing I have ever heard…we have plenty of talented people in our country that are unemployed and he wants to people from other countries?!!!

  6. lvent says:

    I have witnessed myself American citizens who don’t have a clue about the mortgage fraud….If 99% of American citizens don’t get it, the immigrants never will…..This idiot is suggesting the pretender lenders use immigrants to launder fraud….just to allow these crooks to cover up their theft of homes they do not own. They just keep coming up with new ways to shit on the American people….and we keep allowing them to do it…and it won’t stop until we all stand up and do something..Start filing those police reports people…all of the fraud needs to be forced by ALL of us to go the way of subpoenas, criminal indictments and criminal prosecutions..

    • Alex says:

      Immigrants? More like investors. Foreign investors. Not immigrants. Maybe foreign investors come in with the laundered mortgage fraud funds and buy up the very property the funds were generated from, thus completing the circle. Just thinking out loud.

      • lvent says:

        That could indeed be very true Alex…This is an attempted take over by the Global ruling elite and all of the minions and cohorts..A Global Hitler Plan..But do not forget the politicians who are part of that global power structure want to win votes using illegal aliens for their own selfish greedy purposes…..

      • lvent says:

        Alex, when I went to speak to an attorney about my own fraudclosure I asked him point blank, what are they going to do with all of these houses they are stealing hand them to the foreigners on a silver platter???????….His eyes got large then he shrugged his shoulders and put his head down and said I don’t know…….He knows…..damned well there are a very many treasonists and traitors in our midst….

  7. maggie May says:

    WHAT WOULD YOU DO WITHOUT ME TO ARGUE?

  8. maggie May says:

    IM HOLDING OUT 4 A HERO!

  9. Mario Kenny says:

    he was right about alot, i think.

  10. lvent says:

    Why that low down dirty treasonist traitor scum sucking, bottom feeding pig!!!!!!!! Throw him in prison for TREASON!!!!!! Throw ALL of the illegals out!!!!!!!!!! They are being allowed by the U.S. GOVERNMENT TO steal our country and our National Sovereignty….they are being allowed to game our system by our Government and our politicians are in turn buying their childrens votes…….. GOVERNOR PAT QUINN OF ILLINOIS WANTS TO GIVE ILLEGAL IMMIGRANTS CHILDREN FREE COLLEGE……AND PROBABLY A FREE HO– USE…….TO BUY THOSE CHILDRENS VOTES………………..THROW THE BASTARD POLITICIANS OUT AMERICA!!!!!! THEY ARE DESTROYING US FROM WITHIN…..VERY DECEPTIVELY…..THEY ARE GIVING THE FOREIGNERS OUR HOMES ON A SILVER PLATTER NOW…….WAKE UP!!!!!! THIS IS A NEW WORLD ORDER HITLER PLAN…….BY THE NEW WORLD ORDER TO OVERTHROW DEMOCRACY AND OUR U.S. CONSTITUTION FROM WITHIN……….

    • lvent says:

      THIS RITHOTLZ GUY IS EITHER A NAZI OR A NAZI SYMPATHIZER…..EITHER WAY HE IS A TRAITOR AND NEEDS TO BE THROWN OUT OF AMERICA AND SENT BACK TO THE VATICAN WHERE HIS EVIL MASTERS DWELL……

      • lvent says:

        YEAH LET THE U.S. GOVERNMENT HAND THE FOREIGNERS OUR COUNTRY ON A SILVER PLATTER……THAT WILL SOLVE ALL OF THE PROBLEMS….BECA– USE THESE so called IMIGRANTS ARE PROBABLY ILLEGAL IMMIGRANTS AND ARE ILLITERATE TO THE ENGLISH LANGUAGE…I SEE THEM IN COURT, THEY CAN’T EVEN SPEAK ENGLISH, LET ALONE FIGHT A FRAUDCLOSURE…..AND THEY WON’T AND THE NEW WORLD ORDER WILL GET THE HOMES BACK AFTER THEY FRAUDCLOSE ON THE FOREIGNERS AFTER THEY LOSE THEIR INCOME……AND THE PRETENDER LENDERS WILL START A NEW CHAIN OF TITLE WHEN THE SO CALLED IMMIGRANTS ARE FORCED TO SIGN THE HO– USE BACK OVER TO THE NEW WORLD ORDER…..THEY WANT TO LAUNDER CLOUDY TITLE THROUGH ILLEGAL IMMIGRANTS????? JESUS, MARY AND JOSEPH..PLEASE,HELP US.

      • lvent says:

        I was in court and witnessed an illegal immigrant who got caught shoplifting in Walmart get off with NO PUNISHMENT, NO LECTURE, THE JUDGE EVEN ASKED HER IF SHE WAS SCARED AND TOLD HER NOT TO BE SCARED….NO THREAT OF DEPORTATION, I KID YOU NOT, IT WAS A DISGRACE…THIS ILLEGAL ALIEN HAD NO LAWYER TO REPRESENT HER…….I SAW JUDGES GIVING AMERICAN CITIZENS WHO HAD DONE SIMILAR CRIMES GET THEIR ASSES CHEWED OUT, FINED AND COMMUNITY SERVICE……THROW THESE JUDGES OUT AMERICA……

      • maggie May says:

        U TAKING ME LINES LOL!

      • Willy says:

        You do know that Pope Piux 12 was honored by Israel for his work in saving Jews, as they dedicated a Park to him called Pacelli Forest, for his work in saving so many Jews.

        And it wasnt Nazis that confiscated land en masse and starved its inhabitants.
        It was actually Bolshevik Jews in Russia, who killed off 66 million Christians, as per Nobel and Pulitzer prize winner Aleksandr Solzhenitzyn.
        Just sayin.

  11. JACLYN says:

    JESUS…………………..

  12. Francis Glendon says:

    People, yes you people in the USA, the violence that is coming from the financial sector is amazing!!!
    Exhibit A is a rich jackass saying that a “superior group of people” should be rewarded with housing. There isn’t anything funny about Ritholtz at all, there isn’t anything funny about exploiting any group of people anywhere in the world. We have much more in common with our foreign brothers and sisters, for they too are exploited by financial feudal lords in control of their governments. F#$k you Barry!

  13. maggie May says:

    HE IS RIGHT!

  14. Mario Kenny says:

    Lol but they been going this for years, and all the Mexicans and the many Latinos do not know they have rights even without any color of a card. So they are stealing the houses very easy this way, plus this sort of lawlessness breeds predictors, and who do you think owns all the land anyways?, well who we owe all that money too?, they own the land. Will we have lost our sovereignty in this huge scam?, an invasion by economics a takeover of another land by way of third class debt.

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